Conditions are severely overbought, but there appears to be enough momentum for the Australian Dollar (AUD) break clearly above 0.6800, but, given the overbought conditions, it remains to be seen if 0.6870 is within reach, UOB Group FX strategists Quek Ser Leang and Lee Sue Ann note.
24-HOUR VIEW: “We did not expect AUD to jump by 1.37% (NY close of 0.9797) last Friday. The 1.37% gain is the biggest 1-day advance this year. Predictably, after such a strong surge in a short span of time, conditions are severely overbought. However, there appears to be enough momentum for AUD to break clearly above 0.6800. The next resistance at 0.6870 is highly unlikely to come into view today. There is another resistance at 0.6830. On the downside, any pullback is not expected to threaten the support at 0.6745 with minor support at 0.6760.”
1-3 WEEKS VIEW: “In our most recent narrative was from last Thursday (22 Aug, spot at 0.6750), we indicated that ‘while upward momentum has slowed somewhat, it is too early to call for an end to the advance in AUD.’ We added, “provided that the ‘strong support’ level at 0.6660 is not taken out, AUD could continue to advance, possibly to last month’s high, near 0.6800.’ Last Friday, AUD jumped to within one pip of 0.6800, reaching a high of 0.6799. The outsized advance continues to suggest further AUD strength. However, given the overbought conditions, it remains to be seen if 0.6870 is within reach in the next 1 to 2 weeks. On the downside, the ‘strong support’ level has moved higher to 0.6710 from 0.6660.”
© 2000-2024. Sva prava zaštićena.
Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.
Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.
Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.